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· Hotel and serviced apartments will support mid-market growth for tourists with a preference for Sharia compliant accommodation
Dubai, UAE - Deyaar Development PJSC, one of Dubai's largest property development and real estate services companies, today announced that work is underway on its latest development project, situated close to the Mall of Emirates, in Al Barsha. The hotel and serviced apartment development, with a total plot size of 70,800 square feet, is expected to be completed by December 2017.
The hotel will have total of 408 units, including 299 hotel rooms, of which 15 will be suites, in addition to 109 serviced apartments - a mix of 93 one-beds, and 16 two-beds. The complex will have a host of facilities and amenities for leisure and business travellers including restaurants, a business centre, meeting room, swimming pools and a spa, a gym and children's play area. There will be leisure facilities dedicated for men and women, including a separate pool for the ladies, and restaurant options to cater to the growing numbers of visitors with a preference for Sharia compliant accommodation.
The property will tap into the increasing demand for hotel and serviced apartment accommodation by providing quality facilities in close proximity of the Mall of Emirates. The project will contribute to the emirate's objective to ensure a variety of accommodation options to meet the target of 20 million annual visitors by 2020, as set out by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, and Ruler of Dubai.
Saeed Al Qatami, Chief Executive Officer of Deyaar, said: "This project reiterates Deyaar's commitment to support the Dubai's Tourism Vision 2020 and increase the supply and variety of accommodation options. The property is conveniently positioned in one of Dubai's burgeoning districts in the vicinity of numerus landmarks and facilities. Our Al Barsha project is complementary to our growth strategy and is a significant expansion of our portfolio in the hospitality sector, as we are aiming to manage 1,000 hospitality units by 2018."
Following previously announced hotel apartment developments at The Atria in Business Bay and the Mont Rose project in the Dubai Science Park, this development is a further addition to Deyaar's hospitality portfolio, and the increasing diversification of company. Building on its longstanding reputation for successful commercial and residential property development, Deyaar has in recent years expanded its property management and facilities management divisions, as well as allocating up to one million square feet for hospitality projects.
The hotel and serviced apartments will be a valuable addition to the thriving Al Barsha neighborhood. Minutes from the Mall of the Emirates and Dubai Metro stations with easy access to Sheikh Zayed Road, the development will cater for the increasing number of tourists to Dubai and the demand for short to mid-term accommodation for corporate travels in the Emirate. With new shopping and dining developments planned for the region, this growth area with easy access to key residential, business, and tourist locations is a considered location for the project.
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About Deyaar:
Deyaar Development PJSC is a leading real estate developer and real estate services company, headquartered in Dubai. Since its establishment in 2002, the company has registered exponential growth to become an industry leader in the region, with a share capital of AED5.78 billion.
Deyaar is well-positioned to play a pivotal role in the development of the region's property landscape. The company's in-depth market intelligence, world-class services and unrivalled property management support for communities across diverse portfolios have firmly consolidated its pioneering status in the region's real estate landscape.
Combining excellence with a vision to create natural living environments while placing customers at the core of its strategies, Deyaar additionally serves as a one-stop real estate solutions provider. Under this profile, its scope includes the delivery of end-to-end property development and property management services, overseeing over 20,000 property units across the UAE. Deyaar also provides facility management services for its portfolio of more than 18,000 commercial and residential units. The company additionally spearheads an association management team to ensure the wellbeing of Deyaar's homeowners as a key priority.
Deyaar complies with the escrow legislation and relevant property laws in the UAE and is registered with the Real Estate Regulatory Authority under reference number 15/07.
For further information, please contact:
Khalid Yahya
Ala Hassan
ASDA'A Burson-Marsteller
Deyaar Development PJSC
Dubai - UAE
Dubai - UAE
+971 4 450 7600
+971 4 3840950
Khalid.Yahya@bm.com
alah@deyaar.ae
© Press Release 2016
